Loci Orthopaedics Raises €12.8M in Series A

Loci Orthopaedics has closed an oversubscribed €12.8 million Series A financing round. It was led by new investors Seroba, Johnson & Johnson Innovation, JJDC Inc., (JJDC) and the European Innovation Council (EIC) Fund.

The Ireland-based company said the proceeds will allow it to augment initial clinical investigation for its InDx implant system, which has indicated positive preliminary results. The funds will also help Loci build more clinical data to support regulatory approval indications and future commercialization.

The InDx implant system is an evidence-based implant for thumb base joint arthritis. It replicates the thumb base joint’s functional biomechanics in order to restore natural motion. Loci believes its novel design could address the limitations of current thumb implants, which are often unsuccessful and prone to dislocation and movement after implantation.

Loci completed enrollment of a 15-patient clinical study for its InDx implant system in October 2023. The Thumb Hemi-Arthroplasty with Natural Kinematics (THANKS) study will evaluate surgical implantation as well as improvements in pain, grip, and quality of life for those with thumb base joint arthritis.

The company plans to publish results from the THANKS study later this year.

“Thumb base joint arthritis is a painful and disabling condition with a significant unmet clinical need for an effective, evidence-based, surgical solution,” said Loci co-founder and executive chairperson Dr. Brendan Boland. “With a growing patient population, our InDx Implant System has the potential to provide surgeons and patients with a less invasive and more effective treatment for this condition. This funding will enable us to expand our clinical programs, submit regulatory approval applications in the US and EU and accelerate our efforts towards future commercialization.”

“The company is excited to work with three very experienced and well-respected investment groups to help the company bring a promising new solution to market to help the many currently underserved patients and their surgeons with a joint sparing treatment option,” added Loci CEO Barry Russell.